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Care fee ticking time bomb?

View profile for Claire Read
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In a recent report, 35% of those surveyed disagreed that their home should be used to fund care in the future. However, in a 5 year period the percentage of people who thought that the state would pay for future care dropped from 51% to 28%. Perhaps reality is finally setting in that, as a society, we cannot afford to pay for the care needed by individuals in advancing years. 

My view is that this ticking time bomb is not something that we can easily overcome now and if it means that my parents need to pay for their care from their home proceeds, then so be it. I want them to have the best care possible and they should not feel it is a waste of their hard work for the money to be spent for their benefit. Although I may benefit from my parents not having to pay for their care, we know that there is a gaping hole in the public finances which needs to be plugged from somewhere. If we don’t pay, my children and grandchildren are certainly going to have to pay!

If you have any concerns or questions regarding the above, or care fees and inheritance then please speak to one of our specialists Claire Read on 01245 453835 or alternatively you can email me at claire.read@birkettlong.co.uk.

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